TIDM42BI
RNS Number : 3689B
Inter-American Development Bank
11 February 2022
PRICING SUPPLEMENT
Inter-American Development Bank
Global Debt Program
Series No: 820
AUD 50,000,000 0.85 percent Notes due August 10, 2023 (the
"Notes")
Issue Price: 100.00 percent.
No application has been made to list the Notes on any stock
exchange.
Daiwa Capital Markets America Inc.
The date of this Pricing Supplement is February 7, 2022.
Terms used herein shall be deemed to be defined as such for the
purposes of the Terms and Conditions (the "Conditions") set forth
in the Prospectus dated July 28, 2020 (the "Prospectus") (which for
the avoidance of doubt does not constitute a prospectus for the
purposes of Part VI of the United Kingdom ("UK") Financial Services
and Markets Act 2000 or a base prospectus for the purposes of
Regulation (EU) 2017/1129 (as amended, the "Prospectus Regulation")
or the Prospectus Regulation as it forms part of UK domestic law by
virtue of the European Union (Withdrawal) Act 2018 ("EUWA")). This
Pricing Supplement must be read in conjunction with the Prospectus.
This document is issued to give details of an issue by the
Inter-American Development Bank (the "Bank") under its Global Debt
Program and to provide information supplemental to the Prospectus.
Complete information in respect of the Bank and this offer of the
Notes is only available on the basis of the combination of this
Pricing Supplement and the Prospectus.
Terms and Conditions
The following items under this heading "Terms and Conditions"
are the particular terms which relate to the issue the subject of
this Pricing Supplement. Together with the applicable Conditions
(as defined above), which are expressly incorporated hereto, these
are the only terms that form part of the form of Notes for such
issue.
1. Series No.: 820
2. Aggregate Principal Amount: AUD 50,000,000
3. Issue Price: AUD 50,000,000, which is 100.00
percent of the Aggregate Principal
Amount
4. Issue Date: February 10, 2022
5. Form of Notes
(Condition 1(a)): Registered only
6. Authorized Denomination(s)
(Condition 1(b)): AUD 100,000 and integral multiples
thereof
7. Specified Currency
(Condition 1(d)): Australian Dollar (AUD) being
the lawful currency of the Commonwealth
of Australia
8. Specified Principal Payment
Currency
(Conditions 1(d) and 7(h)): AUD
9. Specified Interest Payment
Currency AUD
(Conditions 1(d) and 7(h)):
10. Maturity Date
(Condition 6(a); Fixed Interest
Rate and Zero Coupon): August 10, 2023
11. Interest Basis
(Condition 5): Fixed Interest Rate (Condition
5(I))
12. Interest Commencement Date
(Condition 5(III)): Issue Date
13. Fixed Interest Rate (Condition
5(I)):
(a) Interest Rate: 0.85 percent per annum
(b) Fixed Rate Interest Payment
Date(s): Semi-annually in arrear on February
10 and August 10 in each year,
commencing on August 10, 2022,
up to and including the Maturity
Date.
Each Fixed Rate Interest Payment
Date is subject to the Business
Day Convention, but with no adjustment
to the amount of interest otherwise
calculated.
(c) Business Day Convention: Following Business Day Convention
(d) Fixed Rate Day Count Fraction(s): 30/360
14. Relevant Financial Center: Sydney, New York
15. Relevant Business Day: Sydney, New York
16. Issuer's Optional Redemption
(Condition 6(e)): No
17. Redemption at the Option
of the Noteholders (Condition No
6(f)):
18. Governing Law: New York
Other Relevant Terms
1. Listing (if yes, specify
Stock None
Exchange):
2. Details of Clearance System
Approved by the Bank and the
Global Agent and Clearance and
Settlement Procedures: Euroclear Bank SA/NV and/or Clearstream
Banking, S.A.
3. Syndicated: No
4. Commissions and Concessions: No commissions or concessions
are payable in respect of the
Notes. An affiliate of the Dealer
has arranged a swap with the Bank
in connection with this transaction
and will receive amounts thereunder
that may comprise compensation.
5. Estimated Total Expenses: The Dealer has agreed to pay for
all material expenses related
to the issuance of the Notes ,
except the Issuer will pay for
the London Stock Exchange listing
fees, if applicable.
6. Codes:
(a) Common Code: 243954258
(b) ISIN: XS2439542585
7. Identity of Dealer(s)/Manager(s): Daiwa Capital Markets America
Inc.
8. Provisions for Registered
Notes:
(a) Individual Definitive Registered
Notes Available on Issue Date:
No
(b) DTC Global Note(s): No
(c) Other Registered Global
Notes: Yes, issued in accordance with
the Amended and Restated Global
Agency Agreement, dated as of
July 28, 2020, between the Bank,
Citibank, N.A., London Branch
as Global Agent, and the other
parties thereto.
9. Intended to be held in a
manner which would allow Eurosystem
eligibility: Not Applicable
10. Selling Restrictions
(a) United States: Under the provisions of Section
11(a) of the Inter-American Development
Bank Act, the Notes are exempted
securities within the meaning
of Section 3(a)(2) of the U.S.
Securities Act of 1933, as amended,
and Section 3(a)(12) of the U.S.
Securities Exchange Act of 1934,
as amended.
(b) United Kingdom: The Dealer represents and agrees
that (a) it has only communicated
or caused to be communicated and
will only communicate or cause
to be communicated an invitation
or inducement to engage in investment
activity (within the meaning of
Section 21 of the Financial Services
and Markets Act 2000 (the "FSMA"))
received by it in connection with
the issue or sale of the Notes
in circumstances in which Section
21(1) of the FSMA does not apply
to the Bank, and (b) it has complied
and will comply with all applicable
provisions of the FSMA with respect
to anything done by it in relation
to such Notes in, from or otherwise
involving the UK.
(c) Commonwealth of Australia: The Dealer is neither a bank nor
an authorized deposit-taking institution
which is authorized under the
Banking Act 1959 of Australia.
The Dealer is engaged in connection
with the issuance of the Notes
solely for the purposes of transactions
outside Australia and with persons
who are not resident or located
in Australia. The Dealer represents
and agrees that it:
* has not (directly or indirectly) offered or invited
applications, and will not offer or invite
applications, for the issue, sale or purchase of the
Notes in Australia (including an offer or
invitation which is received by
a person in Australia); and
* has not distributed or published, and will not
distribute or publish, the Prospectus or any other
offering material or advertisement (including any
Pricing Supplement) relating to the Notes in
Australia.
The Dealer has not provided, and
will not provide, any financial
services (as defined in the Corporations
Act 2001 of Australia ("Corporations
Act")) in, or into, Australia
in connection with the issuance
of the Notes and it has not engaged,
and will not engage, in any conduct
intended to induce persons who
are resident or located in Australia
to use the financial services
the Dealer provides.
The Dealer acknowledges in relation
to the Global Debt Program and
the issue of the Notes that the
Prospectus has not been, and will
not be, and no other prospectus
or other disclosure document (as
defined in the Corporations Act)
in relation to the Global Debt
Program or any Notes has been
or will be, lodged with the Australian
Securities and Investments Commission
or any other Australian governmental
agency.
(d) Singapore: In the case of the Notes being
offered into Singapore in a primary
or subsequent distribution, and
solely for the purposes of its
obligations pursuant to Section
309B of the Securities and Futures
Act (Chapter 289) of Singapore
(the "SFA"), the Issuer has determined,
and hereby notifies all relevant
persons (as defined in Section
309A of the SFA) that the Notes
are "prescribed capital markets
products" (as defined in the Securities
and Futures (Capital Markets Products)
Regulations 2018 of Singapore)
and Excluded Investment Products
(as defined in MAS Notice SFA
04-N12: Notice on the Sale of
Investment Products and MAS Notice
FAA-N16: Notice on Recommendations
on Investment Products).
(e) General: No action has been or will be
taken by the Issuer that would
permit a public offering of the
Notes, or possession or distribution
of any offering material relating
to the Notes in any jurisdiction
where action for that purpose
is required. Accordingly, the
Dealer agrees that it will observe
all applicable provisions of law
in each jurisdiction in or from
which it may offer or sell Notes
or distribute any offering material.
General Information
Additional Information Regarding the Notes
1 . Use of Proceeds
An amount equal to the net proceeds of the issue of the Notes
(which proceeds may be converted into other currencies) shall be
recorded by the Bank in a separate sub-account supporting Eligible
Projects. These proceeds will be invested in accordance with the
Bank's conservative liquidity investment guidelines until used to
support the Bank's financing of Eligible Projects. So long as the
Notes are outstanding and the account has a positive balance, the
Bank shall direct an amount equal to such net proceeds to its
lending projects within the fields of Education, Youth, and
Employment, subject to and in accordance with the Bank's policies.
The Bank shall allocate amounts from the sub-account to support the
financing of Eligible Projects on a semi-annual basis.
"Eligible Projects" means all projects funded, in whole or in
part, by the Bank that promote early childhood care and education,
through formal primary and secondary education, or facilitate labor
market placement by improving the transition from school to work
through vocational training. Eligible Projects may include projects
in Latin America and the Caribbean that target (a) early childhood
development, effective teaching and learning among children and
youth ("Education Projects"), (b) early childhood care and
youth-at-risk programs ("Youth Projects") or (c) labor
intermediation systems, job opportunities and workforce skills
("Employment Projects").
Examples of Education Projects include, without limitation:
-- Early childhood development programs
-- Primary education programs, which includes teacher training,
bilingual education, literacy, math and science education and
school infrastructure
-- Secondary education programs, which includes programs
directed to improving retention and graduation, developing teaching
and learning methods and providing assistance to disadvantaged
children
-- Compensatory education programs
-- Teacher education and effectiveness programs
-- E-education programs
Examples of Youth Projects include, without limitation:
-- Support for parents and caregivers to improve quality of child care
-- Youth-At-Risk programs which support interventions, policy
design, and/or impact evaluations to benefit at-risk youth
Examples of Employment Projects include, without limitation:
-- School-to-Work transition programs
-- Vocational and technical education programs
-- Human resources and workforce development programs
-- Labor intermediation systems
-- Vocational and Workforce training programs, directed at
improving social and labor acclimation for youth, unemployed adults
and active workers
The above examples of Education Projects, Youth Projects and
Employment Projects are for illustrative purposes only and no
assurance can be provided that disbursements for projects with
these specific characteristics will be made by the Bank during the
term of the Notes.
INTER-AMERICAN DEVELOPMENT BANK
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END
IODUAURRUBUUARR
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